The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
9-515 - Purchase of existing utility plant and property; valuation; appeal
9-515. Purchase of existing utility plant and property; valuation; appeal
A. When a municipal corporation and the residents thereof are being served under an existing franchise by a public utility, the municipal corporation, before constructing, purchasing, acquiring or leasing, in whole or in part, a plant or property engaged in the business of supplying services rendered by such public utility, shall first purchase and take over the property and plant of the public utility.
B. The property and plant shall become the property of the municipal corporation upon payment by the municipal corporation of the fair valuation thereof within eighteen months after the determination of the valuation in the manner hereinafter provided.
C. The fair valuation of the public utility shall be the equivalent of the compensation to be paid for the taking of private property for public use as provided by article 2, chapter 8 of title 12, and the amount shall be determined by one of the following methods:
1. By agreement between the municipal corporation and the public utility.
2. By arbitrators chosen in a manner agreed upon at the time by the municipal corporation and the public utility.
3. By a court of competent jurisdiction determining the compensation for the taking of private property for public use as provided by article 2, chapter 8 of title 12.
D. The municipal corporation and the public utility shall have right of appeal as provided by article 2, chapter 8 of title 12.